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New York Stock Exchange Signals Willingness to Relocate Servers to Avoid Proposed New Jersey Financial Transaction Tax

September 26th, a Saturday, is an ominous day for New Jersey lawmakers hoping to generate billions of dollars in annual revenue from a financial transaction tax targeting New York-based stock exchanges that currently rely on electronic infrastructure located across the river in New Jersey. On that day, all the U.S.-based exchanges will simulate a day’s […]

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New York and New Jersey Consider Financial Transaction Taxes

Seeking new sources of funding, New York and New Jersey—two states at the heart of global financial markets—are considering financial transaction taxes. New Jersey’s A4402 would impose a 0.25 cent tax on every financial transaction processed in the state. In New York, some lawmakers have proposed a rate as high as 5 cents per share […]

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Financial Transaction Tax Could Hit Average Spanish

Since Pedro Sanchez first became Spain’s Prime Minister in 2018 and, now, in conjunction with the left-wing coalition party, Unidas Podemos, he has been working to overhaul the Spanish tax system. The main measures to increase revenue entailed higher taxes for businesses and high-income earners. In the face of the economic shock delivered by the […]

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Tax Policy Proposals for the German EU Presidency

Today begins Germany’s presidency of the council of the European Union. The EU presidency rotates among EU member countries every six months; Germany’s presidency will last through the end of 2020. In addition to a new six-month presidency, this is also the beginning of an 18-month cycle with Germany, Poland, and Slovenia working on a […]